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Nuclear company EDF has financial and legal problems

The European Commission plans to take France to the European Court of Justice over a provision in the reform which maintains local taxes on electricity, La Tribune reported today……..….

EDF May Sell Nuclear Power Below 42 Euros, Deputy Says, Bloomberg, By Tara Patel – Nov 26, 2010 Electricite de France SA may be forced to sell nuclear power to rivals at less than it says it needs to recoup production costs under a law adopted yesterday by France’s National Assembly, according to a lawmaker.

The price set by the government will likely be “less than” the so-called Tartam tariff of about 42 euros ($56) a megawatt-hour, Jean-Claude Lenoir, deputy for the ruling Union for a Popular Movement party, said today by telephone.

The Tartam rate includes the cost of base nuclear power as well as peak production costs. The price to be set by the government and regulator under the new law is for EDF’s nuclear output,……………

The European Commission plans to take France to the European Court of Justice over a provision in the reform which maintains local taxes on electricity, La Tribune reported today…………

Poweo SA, whose biggest shareholder is Verbund AG, warned this month of higher-than-expected losses this year and said the power law may not do enough to open up the market. The utility has struggled to compete with EDF for household and business customers…..
To contact the reporter on this story: Tara Patel in Paris at tpatel2@bloomberg.net.

EDF May Sell Nuclear Power Below 42 Euros, Deputy Says – Bloomberg

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November 26, 2010 - Posted by | business and costs, France | , , , , ,

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